Key features

When you join, an individual Retirement Savings account is set up in your name. Contributions from you and your employer are credited to this account and invested to build up over the years. The value of your account will then be used to provide benefits when you retire.

The Legal & General Key Features document has a lot more detail about how our plan works.

Investment options

Contributions will be invested in the Default Fund, but you can select a different fund or funds once you become a member.

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Benefits

You choose how to take your benefits – generally you will be able to take a mix of cash and regular income.

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Financial support

Your employer makes a contribution to your retirement savings, helping you save even more for your future.

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Portability

If you leave the company your employer’s contributions will cease, but you can continue to pay into the scheme. Alternatively, you may be able to transfer the funds you have built up into another scheme.

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Membership

You can choose to join once you have completed three months’ service. Entry is on the 1st day of the following month.

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Your contributions

You decide how much to save – from 3% to 6% of your Retirement Savings Pay. You can pay in more, but it will not be matched by your employer.

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Your employer’s contributions

Your employer will match your savings by up to 6% of your Retirement Savings Pay.

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Life assurance cover

You get life cover of four times (4x) your annual Retirement Savings Pay, rising to five times (5x) after you have been a member for five years.